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Today's Signal YELLOW LIGHT |
Our old support is now new resistance here. So far we have bounced off our second level of support. Watch for a close above this or below this level, $7726.25, for our next move.
Signal by Licia Leslie
| GREEN: High probability of the market moving higher. |
| YELLOW TODAY: Be cautious when making a directional trade. |
| RED: High likelihood of the market dropping. |
Today's Levels
S&P Futures Key Levels · Tuesday, August 18 · via Licia Leslie
| Level | S&P FUT |
| Resistance 2 (50-day MA) | 7,825.25 |
| Resistance 1 | 7,770.50 |
| Premarket Price | 7,734.50 |
| Support 1 | 7,726.25 |
| Support 2 | 7,664.75 |
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Our next leg lower will take us down to the median line, but our uptrend will remain intact.
How to Use Today's Levels
Red = resistance: watch for price to stall or reverse; a clean break above is bullish.
Green = support: watch for price to hold or bounce; a break below is bearish.
The center row is the premarket reference point for the session. Trade in the direction of today's signal.
The Number
+293%
An SPX 7,770 put that expired Monday, August 17 opened at $5.50. By the high of the day it traded at $21.60, a $1,610 gain per contract (293%) for traders who caught the move.
Volume Anomaly
SPX 0DTE Volume: 2.1M Contracts
0DTE SPX volume on Monday, August 17 came in at 2.1M contracts, roughly 23% below the 20-day average of 2.8M. Put activity dominated, with 991K calls vs 1.2M puts. The heaviest call volume concentrated at the 7,775, 7,780, 7,760 strikes. On the put side, the 7,750, 7,755, 7,770 strikes saw the most action. The put/call ratio finished at 1.16, a defensive tilt from options traders.
Editor's Note
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Licia Leslie 0DTE Analyst, Option Pit |
The higher bond yields and higher crude are taking the stock market lower. If we breakdown below this morning's lows, we will trade down to the median line at $7664.75.
Yesterday's Close
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SPX 7,745.06 -0.52% |
VIX 15.19 +6.60% |
SPY 772.67 -0.47% |
QQQ 729.87 -0.16% |